Savara Announces New Employment Inducement Grant

Rhea-AI Summary

Savara announced the grant of inducement awards to four new employees on November 20, 2024. The awards include options to purchase 80,000 shares of common stock and restricted stock units (RSUs) covering 70,000 shares. The options have an exercise price of $3.13 per share, with a 10-year term and quarterly vesting over four years. The RSUs vest fully after two years. These equity awards were granted under Savara's 2021 Inducement Equity Incentive Plan in accordance with NASDAQ Listing Rules.

Positive

• None.

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• Potential shareholder dilution from 150,000 new shares (80,000 options + 70,000 RSUs)

LANGHORNE, Pa.--(BUSINESS WIRE)-- Savara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical company focused on rare respiratory diseases, today announced the grant of inducement awards to four new employees.

On November 20, 2024, the Compensation Committee of Savara's Board of Directors granted the inducement awards to four new employees who recently joined the Company. The inducement awards consist of options to purchase an aggregate of 80,000 shares of the Company’s common stock and restricted stock units (RSUs) covering an aggregate of 70,000 shares of the Company’s common stock. These equity awards were granted under the Savara Inc. 2021 Inducement Equity Incentive Plan pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules as an inducement material to the employees’ acceptance of employment with the Company.

The options have an exercise price of $3.13 per share, the closing trading price of the Company's common stock on the NASDAQ Global Market on the grant date. Each option has a 10-year term and vests as to 1/16^th of the number of shares subject to the option on each quarterly anniversary of the employee’s first day of employment, subject to the employee’s continued employment on each such vesting date. The RSUs vest in full on the two-year anniversary of the employee’s first day of employment, subject to the employee’s continued employment on such vesting date.

About Savara

Savara is a clinical stage biopharmaceutical company focused on rare respiratory diseases. Our lead program, MOLBREEVI*, is a recombinant human granulocyte-macrophage colony-stimulating factor (GM-CSF) in Phase 3 development for autoimmune pulmonary alveolar proteinosis (aPAP). MOLBREEVI is delivered via an investigational eFlow^® Nebulizer System (PARI Pharma GmbH). Our management team has significant experience in rare respiratory diseases and pulmonary medicine, identifying unmet needs, and effectively advancing product candidates to approval and commercialization. More information can be found at www.savarapharma.com, X: @SavaraPharma, LinkedIn: www.linkedin.com/company/savara-pharmaceuticals/).

*MOLBREEVI is the FDA and EMA conditionally accepted trade name for molgramostim inhalation solution.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241122399085/en/

Media and Investor Relations Contact

Savara Inc.

Temre Johnson, Executive Director, Corporate Affairs

ir@savarapharma.com

Source: Savara Inc.

FAQ

How many shares are included in Savara's (SVRA) November 2024 inducement awards?

Savara's inducement awards include options to purchase 80,000 shares and RSUs covering 70,000 shares, totaling 150,000 shares.

What is the exercise price for SVRA's November 2024 inducement stock options?

The stock options have an exercise price of $3.13 per share, which was the closing price of Savara's stock on NASDAQ Global Market on the grant date.

What is the vesting schedule for Savara's (SVRA) November 2024 inducement RSUs?

The RSUs vest in full on the two-year anniversary of each employee's first day of employment, subject to continued employment.